Turkish Airlines announced profits for the first 9 months of 2024
Turkish Airlines (THY) has released its financial results for the first nine months of 2024, showing a significant increase in profits. According to the company's filing on the Public Disclosure Platform (KAP), the company reached a record high with a net profit of 88.9 billion Turkish Liras (approximately US$3.068 billion) for the period.
This success was driven by increased passenger demand, growth in freight transportation and strategic expansion of the route network.
Third quarter results
Turkish Airlines also posted impressive financial results in the third quarter of 2024. The company announced a net profit of 51.4 billion Turkish Liras (approximately US$1.3 billion). Increased passenger traffic, especially during the summer season, as well as growth in cargo traffic were the main factors that had a positive impact on the company's results.
Network growth and expansion
Turkish Airlines' success is not limited to financial results. As part of its long-term strategy, the airline continues to expand its network and modernize its fleet. The number of aircraft in Turkish Airlines' fleet increased by 9% in the first nine months of this year to 467 aircraft. This growth is in line with the company's ambitious plans, including its strategic goal of having more than 800 aircraft in its fleet by 2033, the centennial of Turkish Airlines.
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